The partnership between Finastra and MX Technologies, Inc. is aimed at enhancing the financial services offered by more than 150 financial institutions using Finastra’s Fusion Digital Banking solution. Here are some key points about this collaboration:
- Improved Money Management: The integration of MX’s Personal Financial Management (PFM), Insights, and Account Aggregation solutions with Finastra’s Fusion Digital Banking platform will enable financial institutions to provide their customers with improved tools and services for managing their money more effectively.
- Personalized Recommendations: Consumers will benefit from personalized recommendations, services, and tools that cater to their specific financial needs and behaviors.
- PFM and Financial Wellness Tools: The partnership will offer a robust set of tools, including budgeting and debt management, to help individuals better manage their finances and achieve financial wellness.
- Account Aggregation: Customers can create a consolidated view of their finances by connecting all their financial accounts in one place, making it easier to track and manage their money.
- Enhanced Data and Customer Analytics: The integration will provide financial institutions with improved data and customer analytics, allowing them to gain insights into how consumers engage with their finances. This data can be used to enhance member engagement, improve customer retention, promote financial wellness, and identify new business growth opportunities.
- Open Finance and Collaboration: Finastra is committed to open finance and collaboration. This partnership reflects their dedication to providing innovative solutions and improving customer experiences in the banking industry.
- About Finastra: Finastra is a global provider of financial software applications and marketplaces. They offer a wide range of software solutions and services for various aspects of banking, including Lending, Payments, Treasury & Capital Markets, and Universal Banking. Finastra’s open platform for innovation, FusionFabric.cloud, is a testament to their commitment to open finance and collaboration.
- About MX Technologies, Inc.: MX Technologies, Inc. is a leader in Open Finance, with a focus on helping organizations connect to financial data. They enable the transformation of unstructured data into valuable insights, providing personalized money experiences. MX connects a vast network of financial institutions and fintechs and powers a significant portion of digital banking providers, serving millions of consumers.
About MX
The collaboration between these two companies aims to provide a more comprehensive and personalized banking experience for consumers while helping financial institutions leverage data and analytics to improve customer engagement and drive business growth.